Watch List notes:

(x) Imperial Bank of Persia, archival specimen 20 tomans, ND (ca1911), serial number F/B 08001-F/A 18000, black, pink and green, Shah Nasr-ed-Din at right, Imperial arms at left, value at centre and at each corner, two printed signatures below, reverse orange-brown, Imperial arms at centre, value at centre and at each corner, black serial number at each corner, perforated SPECIMEN(Pick 5s, Farahbakhsh type 6s), faded ink date 'September 1911' in top margin at left, in PCGS holder 62, uncirculated, attractive and the 20 tomans the rarest of the lower denominations.

Estimate: £3,200 - £4,000